The way we authenticate online is fundamentally broken. Technology has evolved significantly since the advent of the internet, yet we still rely primarily on passwords for authentication. Passwords pose significant security and user experience issues, negatively impacting both consumers and businesses. In addition, passwords are also responsible for the vast majority of data breaches each year.
According to Verizon’s 2021 Data Breach Investigations Report, 81% of all breaches involve weak or stolen passwords. In addition to being insecure, passwords also introduce significant consumer frustration. According to a recent Google study, ~75% of users report feeling overwhelmed trying to keep track of their passwords. So it’s no surprise that users often re-use the same password across sites to make this process easier, but it introduces its own risks.
Julianna Lamb, co-founder, and CTO of Stytch joins me on Tech Talks Daily to explore this topic in more detail. Stytch is the first company that’s built a platform for passwordless authentication so that any application or website can embed passwordless sign-up and login flows.
I learn more about the story behind Stych. We also discuss how thousands of companies have used Stytch’s software to eliminate password-based authentication’s security and user experience shortcomings.
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